BSL loses two directors and appoints one replacement

FIJI: Betta Stores Limited (BSL) announced this morning that at a board meeting held on Saturday 13 May, Neville Sutherland and Reg Cain both resigned as directors and Garry Thyer has been appointed to the board.

Thyer, who owns Garry Thyer’s Betta Electrical and Chandlers Townsville, has been a member of the BSL Group for 28 years and has over 35 years in the electrical retail industry, will fill the board position held by Sutherland for 25 years.

In a statement issued by BSL chairman, Patrick Tynan, Sutherland indicated when last re-elected that he would not be offering himself for a further term of re-election.

“Mr Sutherland now intends to settle into full time retirement, having transferred ownership in his business two years ago. In his letter of resignation, Mr Sutherland noted it was a difficult decision to step down from the board and commended his fellow board members on the level of skill and professionalism under which the board operated.

“The Remuneration and Nomination sub-committee of the board, having been aware of Mr Sutherland’s pending retirement this year, have been considering suitable replacements for the position that would be left vacant on Mr Sutherland’s retirement,” Tynan said in his statement.

After seven year as director, Cain cited age limitations imposed under the Corporations Act, which he will exceed this year, as well as health reasons for his decision to resign.

Cain owns Able’s Betta Electrical in Sydney and Chandlers Lismore.

The board position left vacant by Mr Cain’s resignation will not be filled immediately.

“The board, through the remuneration and nomination sub-committee will look for suitable candidates with appropriate skills and experience having assessed the skills and expertise of the current board, the requirements of the company moving forward and the principles of good corporate governance,” Tynan said.

Both resignations will take effect at the end of the next board meeting.

Tynan thanked Sutherland and Cain for their contribution to the board and the company during their respective tenures as directors and welcomed the new director by saying: “Mr Thyer is a well known, experienced and respected businessman who will be an asset to the board”.